Perhaps the best exchange in the movie Godfather for explaining how the mafia worked was when Bonasera is asking Don Corleone (the elder) a favor:
Bonasera: How much shall I pay you [to kill some guy]
Don Corleone: Bonasera, Bonasera, what have I ever done to make you treat me so disrespectfully? If you'd come in friendship, this scum who ruined your

Some readers may not be aware, but I am co-founder and part owner of a professional sports franchise. After I quit Lehman in 2007, I invested in and helped (with my partner Andrew Nestor) form the investor group of the Tampa Bay Rowdies, a pro soccer franchise.
The two questions I get about it once people find out are:
Is that part of the MLS?

I have had several questions lately regarding incentive distribution rights, so here is some data on IDRs free of charge, just remember you get what you pay for...
An article will come out soon in Midstream Business Magazine on the subject of IDRs that will feature several quotes from me and some data I pulled together for the article. The original

Before I get into this week's news and thoughts, I want to take minute to reminisce on the last 365 for MLPs and the market. Last year, on April 28, 2011, the MLP Index closed at 390.0, its highest close for 2011. The next five trading days were down, chopping 6.6% off the index in the process. MLPs continued lower throughout the summer, bottoming

My latest weekly column is up at equities.com, click here to read it: MLP General Partners: A Lucrative Math Problem. Its a post that attempts to put some numbers around the multiplier effect of MLP general partner holdings companies (like KMI, TRGP, AHGP, etc.) that results from owning IDRs, but also the effect on the GP of serial equity issuance at the

This post is going to be a little off the very beaten path of MLP talk. On a day when the fed says low interest rates will be around until 2014, the MLP Index hits fresh all time highs, and euphoria is back en vogue, people aren't probably looking for me to tell them how great MLPs are for the 50th time. So, why not shake it up a bit and talk a little

Happy to announce that at some point in the next few weeks, I will have my first guest blog post. MLP sector-renowned tax attorney Tim Fenn has agreed to do a post where he answers questions that I compile ahead of time from readers and followers of this site. So please add your questions to the comment section below or just shoot me an

I was born on August 1, 1981, which aside from being my birthday and a very cool 8-1-81, also happened to be the first day MTV went on the air, 30 years ago tomorrow. So, me and MTV are both going to be 30.
August 1, 1981 was a Saturday, but in case you were wondering, the Dow closed at 952.34 that Friday, and would finish the year at 875, for a full